Old National vs Cullen/Frost Bankers

Old National Bancorp. and Cullen/Frost Bankers, Inc. This page compares their business models, financial performance, and market context in a neutral, accessible manner. It highlights strategy, scale, and regional footprint without recommendations. Educational content, not financial advice.

Comparison Snapshot

Key Financial Metrics

ONB

Metric

CFR

$8.95B

Market Cap

$8.78B

8.56%

Potential Profit

-3.32%

Buy

Analyst Rating

Hold

Investment Analysis

Old National

ONB

Pros

Old National Bancorp's adjusted EPS of $0.59 in Q3 2025 surpassed forecasts by over 5%, reflecting strong earnings momentum.
The company achieved a 20% increase in loan production and 4.8% annualised deposit growth, indicating robust operational expansion.
Successful integration of Bremer Bank has enhanced operational efficiency and strengthened the company's market position.

Considerations

Old National Bancorp's stock trades near its fair value, limiting potential for significant near-term upside.
Analyst price targets suggest only moderate upside, with consensus forecasts ranging between $24 and $28.
The bank's future net interest income outlook remains dependent on stable interest rates, exposing it to macroeconomic volatility.

Cullen/Frost Bankers

CFR

Pros

Cullen/Frost Bankers reported a return on equity of 14.91% in October 2025, well above its historical average and industry peers.
The bank maintains a strong market share in Texas, particularly among small to medium-sized commercial clients, supporting stable growth.
Cullen/Frost is expanding into high-growth Texas markets such as Houston, Dallas, and Austin, broadening its regional footprint.

Considerations

Cullen/Frost Bankers trades at a substantial premium to its fair value, raising concerns about valuation risk.
The bank's exclusive focus on Texas exposes it to regional economic fluctuations and sector-specific downturns.
Despite strong ROE, the company's dividend yield remains modest, limiting income appeal relative to some peers.

About The Companies

Old National (ONB)

Old National Bancorp is the financial holding company for Old National Bank, a prominent commercial bank serving communities across the American Midwest and Southeast. With banking centres in states like Indiana, Michigan, and Tennessee, the company provides a comprehensive suite of financial services. Beyond traditional consumer and commercial banking, Old National offers wealth management, capital markets, and investment advisory services. This diversified model allows it to cater to a broad range of clients, from individuals to commercial enterprises. For investors, Old National Bancorp represents a regional banking player with deep community roots. As with any financial stock, its performance can be influenced by economic trends and interest rate changes, and returns are not guaranteed.

Cullen/Frost Bankers (CFR)

Cullen/Frost Bankers, Inc. (CFR) is a regional bank headquartered in Texas that provides commercial and consumer banking services, including lending, deposits and wealth management. With a market capitalisation of about $8.03 billion, it serves a concentrated but deep Texas client base where local relationships and commercial lending are important. Investors often watch net interest margin, loan growth, asset quality and deposit trends to assess performance. The bank is frequently noted for a conservative, relationship-driven approach to lending, which can support stability but does not eliminate cyclical credit risk. Like other regional banks, Cullen/Frost is sensitive to interest-rate moves, commercial real-estate trends and the regional economy. This summary is general education only and not personal financial advice; values can rise and fall and past performance is not a guide to the future. Consider your goals, risk tolerance and, if needed, seek professional advice before investing.

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